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Biotech / Medical : Biotech vs. Shorts

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To: scaram(o)uche who wrote (381)2/29/2000 2:17:00 PM
From: Biomaven  Read Replies (1) of 427
 
Rick,

Agree that this was a very interesting interview. I've personally missed the CLPA ride up, mainly because I shared some of Hines' concerns. (But I've never really looked at CLPA in depth).

I think we have to distinguish between a straight "sell" recommendation based on a reasoned analysis, which I don't find objectionable at all, and the sort of sleaze that has surrounded some short attacks (like with GLIA). At this point it is not clear that Avalon itself has been guilty of any of the sleaze - indeed it is not unlikely that the attacks have come from hedge fund types or even individuals who have shorted as a result of the Avalon or Sturza recs.

Part of the issue is that people are used to discounting bullish reports from analysts with an interest in supporting the company. They are not used to doing the same discounting for "sell" recommendations, and so perhaps these have more influence than they should.

Peter
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